Gold's great ... but what's the real prize?

Medal winners go home with cash rewards, even cars

August 25, 2008|By MCT

BEIJING — How much is an Olympic medal worth?

If you're a U.S. gold medal winner, the answer is $25,000 courtesy of the U.S. Olympic Committee plus millions more in potential endorsement deals. A silver medal comes with a $15,000 prize, and a bronze medal brings in $10,000.

If you're Chinese, your gold medal is worth least $150,000 in national government prize money plus, yes, millions of dollars more in potential endorsement deals, according to a top Chinese athletics expert. Silver and bronze also pay.

If you're Afghan taekwondo bronze medal winner Rohullah Nikpai, the first Afghan to ever win an Olympic medal, you go home with a new house in the Afghan capital of Kabul courtesy of President Hamid Karzai, a new Toyota and $20,000 from the Afghan-American owner of the country's main cell phone network.

In the fierce hunt for Olympic medals, many countries offer such financial prizes to spur athletic excellence and the national glory that comes with it. Some athletes said the cash was a long-delayed reward for years of work and sacrifice, especially in obscure sports without lucrative professional futures. Kobe Bryant, for example, may make millions a year in salary and endorsements, but the chances of an Olympic trap shooter getting his or her own brand of sneakers are slim.

Make no mistake, athletes said, it was still mainly about the competitive spirit and beating personal bests. But they weren't about to turn down the cash.

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GOLD STANDARD

Both the Chinese and U.S. governments give out monetary prizes to athletes who win medals at the Olympic games ... though one country's elite end up winning much more than the other.